SOURCE: Sustainable Power Corp.

July 02, 2008 09:32 ET

Sustainable Power Corp. Announces Receipt of Two Million USD From Pemco Energy AS

BAYTOWN, TX--(Marketwire - July 2, 2008) - Sustainable Power Corp. (PINKSHEETS: SSTP) is pleased to announce today the completion and receipt of Two Million Dollars ($2,000,000.00) from Pemco Energy AS ("Pemco"), who is part of the Pemco Group of Europe, payable pursuant to a Stock Purchase Agreement between the Corporation and Pemco at a price of $0.04 per share; as previously announced.

http://www.sustainablepower.com/news-106.html

The equity purchase in Sustainable Power Corp. further exemplifies the Pemco Energy AS commitment and confidence in the SSTP technology, as well as their long-term desire to share in the overall success of Sustainable Power Corp.

John Rivera, Chairman of SSTP, stated, "We continue to work diligently in bringing our technology to market worldwide. We can proudly say that we are striving to be the ultimate green solution to the international energy crisis."

About Pemco Energy

Pemco Energy is part of the Pemco Group, which is a European trading and industrial group with manufacturing, distribution and sale of oil and chemical based products. The Group is represented in 18 countries, and has a major international profile. The Pemco Group realized revenues of approximately $500 million USD last year.

About Sustainable Power Corp.

Sustainable Power Corp. is an international green energy total service provider focused on environmentally safe power generation. The company has the exclusive rights to develop and manage a portfolio of green energy plants utilizing a biocrude discovery, a renewable fuel source able to be produced from non-food feed stock. For more information please visit www.sstp.us.

Safe Harbor Statement

Matters discussed in this press release contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. When used in this press release, the words "anticipate," "believe," "estimate," "may," "intend," "expect" and similar expressions identify such forward-looking statements. Actual results, performance or achievements could differ materially from those contemplated, expressed or implied by the forward-looking statements contained herein. These forward-looking statements are based largely on the expectations of the Company and are subject to a number of risks and uncertainties. These include, but are not limited to, risks and uncertainties associated with: the impact of economic, competitive and other factors affecting the Company and its operations, markets, product, and distributor performance, the impact on the national and local economies resulting from terrorist actions, and U.S. actions subsequently; and other factors available from the Company.

Contact Information

  • Investor Contact:
    Redwood Consultants, LLC
    415-884-0348